scholarly journals Competencies of Sales Employees as a Determinant of the Quality of Provided Services Based on the Insurance Market

2021 ◽  
Vol XXIV (Issue 2) ◽  
pp. 841-855
Author(s):  
Justyna Witkowska ◽  
Sylwia Stachowska
Keyword(s):  
Insurance Market ◽  
Sales Employees

scholarly journals Thriving in a changing world – opportunities and challenges for private health insurance companies

2018 ◽  
Vol 1 (2018/1) ◽  
Keyword(s):  
Health Insurance ◽  
Private Health Insurance ◽  
Health Impact ◽  
Insurance Market ◽  
Insurance Companies ◽  
Full Potential ◽  
Global Trends ◽  
Health Insurance Companies ◽  
Health Insurance Market

The health insurance market in Poland reflects global trends – such as the rising awareness of personal health impact on quality of life. As a consequence, the health insurance market has seen substantial growth during the last years, which is forecasted to continue at over 20 percent more than life or P&C insurance globally. However, private health insurance has not yet unlocked its full potential.

Insurance And Innovative Technologies Of Risks Management Of Ukrainian Companies In The Digital Economy

2021 ◽  
Vol 38 (4) ◽  
Author(s):  
Olena Gudz ◽  
Nataliia Prokopenko ◽  
Dmytro Korsakov ◽  
Nadiia Solovei
Keyword(s):  
Insurance Industry ◽  
Digital Technologies ◽  
Digital Economy ◽  
Insurance Market ◽  
Innovative Technologies ◽  
Cyber Insurance ◽  
Insurance Supervision

It was reviewed possibilities and importance of insurance and innovative technologies of companies' risks management in the digital economy, modern threats and risks of the Ukrainian companies, which are generated in the digital economy conditions, it was identified factors that hinder the development of cyber insurance and implementation of insuretech-solutions in Ukraine, it was revealed the prerequisites for their activation and defined directions and proposed measures for their expansion, justified expediency of introduction and use of innovative technologies and methods of insurance for risks management of Ukrainian companies in the digital economy.It is proved that adaptation of the insurance market to changes related to the digitization of companies, changes in the design of insurance instruments, the introduction of digital technologies in the organization of the insurance industry and cyber insurance, will contribute to improving the quality of insurance protection and stable profitability of Ukrainian companies, stimulating the introduction of new tools, methods and insuretech solutions, diversifying the range of insurance products, improving the forms and methods of insurance supervision, and more.

scholarly journals Health Care Costs: On the Rise Again

2003 ◽  
Vol 17 (2) ◽  
pp. 125-148 ◽  
Author(s):  
Sherry Glied
Keyword(s):  
Health Care ◽  
Health Care Costs ◽  
New Technologies ◽  
Private Insurance ◽  
National Income ◽  
Insurance Market ◽  
The Face ◽  
Private And Public ◽  
Care Costs

Since 1999, health care costs have been growing faster than national income. This rapid growth has occurred as the ability of private and public purchasers to reduce service utilization and bargain for lower prices has fallen, insurers have recouped lost profits through higher premiums, and new technologies have driven up costs throughout the sector. Private insurance market responses to these rising costs may lead to reductions in the number of people with insurance and to increased fragmentation of the insurance market. Over time, technological change in medicine both increases costs and improves the quality of care. The challenge for public policy is to maintain insurance and some degree of equity in the face of these rising costs.

STATE OF CONCENTRATION AND MONOPOLIZATION OF THE INSURANCE MARKET OF UKRAINE

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 10-18
Author(s):  
Anna Novoseletska
Keyword(s):  
Life Insurance ◽  
Insurance Market ◽  
Insurance Companies ◽  
Market Development ◽  
Property Insurance ◽  
Insurance Group ◽  
Key Indicators ◽  
Risk Insurance ◽  
Financial Groups

The intensity and quality of insurance market development are directly related to the level of competition, concentration and monopolization between insurance companies. Although the insurance market of Ukraine is insignificant in terms of key indicators in comparison with foreign ones, the competitiveness of its insurers is very important to ensure proper insurance protection of policyholders. The article is devoted to the assessment of the processes of concentration and monopolization of the insurance market of Ukraine. The study analyzed the structure of the insurance market by segments, concentration indicators and the Herfindahl-Hirschman index for the market as a whole and for individual types of insurance, gradation of insurance companies by the amount of collected insurance premiums. Based on the assessment, it was determined that the insurance market of Ukraine is generally low concentrated, as well as the sector of risky types of insurance. Among the selected segments of the insurance market, the most concentrated is the CASCO insurance. In the field of health insurance there is a slightly lower level of concentration and monopolization as in the OTSPVVNTZ segment. The market of classical property insurance is the least concentrated. The life insurance segment is characterized by moderate concentration and monopolization. The most powerful insurance companies in the relevant sectors of the insurance market of Ukraine are outlined. Since 2015, the top three leaders of the life insurance market are PJSC “MetLife”, PJSC “Insurance Group TAS” and PJSC “IC UNIСA LIFE”. Virtually unchanged leaders in the field of risk insurance during 2018-2020 were PJSC “IC ARX”, PJSC “IC UNICA” and PJSC “Insurance Group TAS”, which are members of financial groups that include leaders of the life insurance market. In general, the national insurance market is becoming more concentrated, which will be appropriate and accepted benefits while strong market players will not involve their residents, and the state controls these processes.

scholarly journals Problems of functioning of the insurance services market in the conditions of COVID-19 distribution

2021 ◽  
pp. 5-9
Author(s):  
Yurii KLAPKIV ◽  
Volodymyr SVIRSKYI
Keyword(s):  
Structural Changes ◽  
Business Processes ◽  
Environmental Variability ◽  
Organizational Transformation ◽  
Insurance Market ◽  
Insurance Contracts ◽  
Financial Products ◽  
Moral Risk ◽  
Selection Of

In the center of contradictions and risks, as well as structural changes in the socio-economic system of the country due to the spread of COVID-19, the development of the insurance market will depend on its adaptation to environmental variability, ability to carry out permanent institutional and organizational transformation, optimization of business processes and introduction of innovative insurance products and services. The purpose of the paper is to develop new approaches to substantiate the dominance of the insurance market in a pandemic conditions and to outline prospects for its progress. The problems of functioning of the insurance services market in the conditions of realization of risks as a result of coronary crisis are considered, which is confirmed by the data on the dynamics of unprofitability of insurance products and refusals to pay insurance indemnity. The parameters of uncertainty of the quality of insurance services are identified, the trends of functioning are tracked, the threats for the parties during the performance of the insurance service are determined. This has greatly simplified the methodology for assessing quality in “regression selection”. Losses from business interruptions caused by the spread of COVID-19 are not covered by standard insurance contracts. In addition, pandemics are an extreme type of risk. Insurers generally clearly prescribe a pandemic as an exception, therefore do not intend to cover them with insurance policies, which provides protection against business interruption and do not include a premium for them in the policy value, without forming reserves for their coverage. It is substantiated that one of the ways to minimize moral risk and regressive selection of both insurers and policyholders in the context of the spread of COVID-19 is the widespread use of insurance protection and decency, which is inherent in highly developed business. This is especially true for insurance services and financial products, which are difficult to assess directly at the time of purchase.

scholarly journals Labor transformation in insurance in the context of digitalization

2020 ◽  
Vol 164 ◽  
pp. 09010
Author(s):  
Elena Karanina ◽  
Dmitriy Tulenty ◽  
Marina Selivanova
Keyword(s):  
Human Capital ◽  
Labor Relations ◽  
Public Life ◽  
Insurance Market ◽  
Human Capital Management ◽  
New Paradigm ◽  
Technological Structure ◽  
Human Labor ◽  
The Subject

The subject of research in the article is the transformation of labor and labor relations in modern insurance. This transformation is due to the transition to a new technological structure based on digitalization, as well as comprehensive informatization of all aspects of public life. The hypothesis that served as the impetus for writing this article is the provision that modern digitalization, unlike its previous automation and informatization, does not aim at increasing the productivity of human labor, but at completely eliminating a person from the production process. In the course of work on the article, the authors used materials from the largest recruiting agency HeadHunter, and also conducted their own research in the form of a survey of insurance market specialists on the issues of transforming labor relations and the demand for new competencies. As a result, it is shown that significant transformations occur both in the content of labor processes and in the competencies that employees should possess. The changes that are taking place impose new requirements on the quality of human capital, a new paradigm of human capital management is being approved, in which the employee is considered not only as an object, but also as an independent subject of management. The transformation of the basic factors (economic, technological, social) of labor relations in insurance is considered.

scholarly journals THE CIVIL LIABILITY INSURANCE OF OWNERS OF MOTOR VEHICLES IN THE CONTEXT OF INNOVATIVE TRANSFORMATIONS

2021 ◽  
Author(s):  
Liudmyla Volokhova ◽  
Keyword(s):  
Civil Liability ◽  
Forecast Model ◽  
Insurance Premium ◽  
Third Party ◽  
Liability Insurance ◽  
Insurance Market ◽  
Motor Vehicles ◽  
European Standards ◽  
Car Insurance

Insurance plays a stabilizing role in economic development, so it is an important financial area in an era of new challenges and threats. This leads to increased attention to insurance in general and the introduction of innovations in such an important area as liability insurance. The specific features of this industry require the development of important recommendations for improving the compulsory civil liability insurance of owners of motor vehicles (CCLIOMV) in Ukraine. The methodology and methods of work involve the use of a systematic approach, analysis, comparison, forecasting in the development of improved regulation of the liability insurance market. The condition for the successful functioning of the insurance market in Ukraine is a decent level of quality of insurance services based on such innovations in car insurance as telematics, namely Usage-based insurance (UBI), is a special program that allows discounts to drivers by tracking their mileage. Another new vector is mobile technology, which allows you to remotely control devices, develop the implementation and maintenance of insurance services with their help. The methods of encouraging the use of motor third party liability insurance services, as well as the approximation of the existing system CCLIOMV to European standards is the use of a bonus-malus – a correction factor for the size of the insurance premium. The need and effectiveness of the introduction of an electronic policy is the ability to independently choose a reliable insurer, provide a guarantee of the acquisition of legitimate insurance protection, the introduction of non-cash using Internet acquiring technology forms of payment for insurance services and more. The scientific research carried out in the work allowed to determine the forecast indicators of the introduced innovations in the insurance market. The results of calculations of the forecast model on the dynamics of sales of electronic policies CCLIOMV in Ukraine show that their volume is constantly growing and in 2022 will amount to about 7 million units. This allows us to forecast the coverage of electronic policies CCLIOMV up to 70% of all vehicles in Ukraine.

scholarly journals Insurance Market of Ukraine in Conditions of Regulatory and Digital Transformation

2020 ◽  
Author(s):  
Olha Hladchuk ◽  
Volodymyr Odochuk
Keyword(s):  
Artificial Intelligence ◽  
Big Data ◽  
Digital Transformation ◽  
Insurance Market ◽  
Institutional Characteristics ◽  
Market Participants ◽  
Mobile Access ◽  
Regulatory Changes ◽  
Quantitative Indicators

The Ukrainian insurance market shows an increase in quantitative indicators of activity, but the functional and institutional characteristics do not meet modern requirements. Now the insurance market of Ukraine is undergoing important regulatory changes, as a result of which the NBU is beginning to regulate the work of insurers, which gives hope for increasing the quality of activity of insurance market participants. Modern financial technologies have transformed the insurance market, they include big data, artificial intelligence, blockchain, mobile access, which gave impetus to the creation of new insurance products and created opportunities for facilitating clients' access to insurance services.

scholarly journals The Availability and Efficiency of Health Insurance to Expatriates: Empirical Findings from Saudi Arabia

2018 ◽  
Vol 11 (3) ◽  
pp. 58
Author(s):  
Hashem Abdullah AlNemer
Keyword(s):  
Saudi Arabia ◽  
Health Insurance ◽  
Qualitative Methodology ◽  
Financial Burden ◽  
High Growth ◽  
Insurance Market ◽  
Primary Data ◽  
Insurance Policy ◽  
Insurance Sector

Health Insurance represents the largest sectors among all types of insurance in Saudi Arabia with a Gross Written Premiums of 51% of the whole insurance market in Saudi Arabia. The high growth of health insurance sector in Saudi Arabia was driven by the obligation mandated by the Ministry of Health "MOH" and Council of Cooperative Health Insurance "CCHI" for expatriates and their families living in Saudi Arabia to have their health insurance, affected mid of 2014. However, the regulations didn’t specify the types and quality of health insurance used. The regulations also didn’t take into consideration the salaries of the expatriates which might affect their financial positions in case of policy cancelation. No studies have been conducted on the Saudi Arabian health insurance market to explore the efficiency and quality of expatriates’ health insurance policy. This paper attempts to fill the gap. The main aim of this study was to explore the availability and efficiency of health care system to expatriates. The quality of health insurance policy relies on the selections made by the employers. The research used qualitative methodology for collection of primary data. A total of 324 responds were received and considered usable for the research. The results were astonishing that most of the participants have their own health insurance policy, however not all service are available to them. Most of the participants clarified that their health insurance policy, did not cover of most of the risk they encountered, it did not cover the medical treatment expenses, as well as the surgery and operation expenses. Such results will put financial burden on expatriates in case their health insurance claims been canceled.

scholarly journals Governance of factors for the regional insurance market development (evidence from Russia)

2019 ◽  
Vol 17 (3) ◽  
pp. 492-507
Author(s):  
Nataliya P. Kuznetsova ◽  
Galina Chernova ◽  
Evgenija Prokopjeva ◽  
Natalja Boldyreva
Keyword(s):  
Economic Development ◽  
Insurance Market ◽  
Market Development ◽  
Factors Affecting ◽  
Proposed Model ◽  
The Social ◽  
Social And Economic Development ◽  
Socio Economic Development ◽  
The Impact

Insurance is the most important institution for social and financial protection. Therefore, the development level of the regional insurance market not only determines the volume and quality of this protection, but also influences the social and economic development of the region through the coverage of risks and the provision of additional jobs. In turn, many factors have a significant impact on the development of the regional insurance market itself. This study is aimed at developing a model for governing the development factors of the regional insurance market, which (governance) focuses on improving the development efficiency of not only the regional insurance market itself, but also the socio-economic development of the relevant region. In this regard, the model for governing the factors of development of the regional insurance market involves solving the following scientific problems: identifying national factors for the functioning and development of the Russian insurance market that influence the development of the regional insurance market; determining regional development factors affecting the regional insurance market; identifying the impact of the regional insurance market on the socio-economic development of the region; developing recommendations on the effective impact of national and regional factors on the regional insurance market development and, through it, on the socio-economic development of the region. Implementation of the proposed model for governing the factors for the regional insurance market development will increase its efficiency and strengthen the socio-economic development of the region.

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